Xavier Defays: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Xavier Defays
Largest movements
- Tangible fixed assets -€41,670
down €41,670 (-3.0%), from €1.4m to €1.4m
of which Land and buildings: -€41,003
- Receivables after one year +€36,580
up €36,580 (+21.9%), from €166,961 to €203,541
- Receivables within one year +€28,243
up €28,243 (+83.2%), from €33,940 to €62,183
of which Other amounts receivable: +€23,613
- Debts after one year -€96,559
down €96,559 (-9.1%), from €1.1m to €962,239
of which Financial debts: -€96,559
- Profit (loss) carried forward +€51,970
up €51,970 (+12.4%), from €418,388 to €470,358
- Trade debts +€32,813
up €32,813 (+139%), from €23,529 to €56,342
- Other debts +€20,000
up €20,000 (+1,053%), from €1,900 to €21,900
- Taxes -€9,193
down €9,193 (-38.0%), from €24,223 to €15,030
- Gross operating margin +€8,710
up €8,710 (+5.4%), from €160,510 to €169,220
- Other operating charges +€6,247
up €6,247 (+57.0%), from €10,967 to €17,214
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,624,649 | €1,647,940 | +€23,291 | +1.4% |
| Fixed assets | 21/28 | €1,401,382 | €1,359,712 | -€41,670 | -3.0% |
| Tangible fixed assets | 22/27 | €1,399,085 | €1,357,415 | -€41,670 | -3.0% |
| Land and buildings | 22 | €1,398,128 | €1,357,125 | -€41,003 | -2.9% |
| Furniture and vehicles | 24 | €957 | €290 | -€667 | -69.7% |
| Financial fixed assets | 28 | €2,297 | €2,297 | = | 0.0% |
| Current assets | 29/58 | €223,267 | €288,228 | +€64,961 | +29.1% |
| Amounts receivable after more than one year | 29 | €166,961 | €203,541 | +€36,580 | +21.9% |
| Other amounts receivable | 291 | €166,961 | €203,541 | +€36,580 | +21.9% |
| Amounts receivable within one year | 40/41 | €33,940 | €62,183 | +€28,243 | +83.2% |
| Trade receivables | 40 | €29,657 | €34,287 | +€4,630 | +15.6% |
| Other amounts receivable | 41 | €4,283 | €27,896 | +€23,613 | +551% |
| Cash at bank and in hand | 54/58 | €16,566 | €21,204 | +€4,638 | +28.0% |
| Deferred charges and accrued income | 490/1 | €5,800 | €1,300 | -€4,500 | -77.6% |
| Total equity and liabilities | 10/49 | €1,624,649 | €1,647,940 | +€23,291 | +1.4% |
| Equity | 10/15 | €438,848 | €490,818 | +€51,970 | +11.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €418,388 | €470,358 | +€51,970 | +12.4% |
| Amounts payable | 17/49 | €1,185,801 | €1,157,122 | -€28,679 | -2.4% |
| Amounts payable after more than one year | 17 | €1,058,798 | €962,239 | -€96,559 | -9.1% |
| Financial debts | 170/4 | €966,798 | €870,239 | -€96,559 | -10.0% |
| Other amounts payable | 178/9 | €92,000 | €92,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €123,026 | €193,433 | +€70,407 | +57.2% |
| Current portion of amounts payable after more than one year | 42 | €75,741 | €80,099 | +€4,358 | +5.8% |
| Trade debts | 44 | €23,529 | €56,342 | +€32,813 | +139% |
| Suppliers | 440/4 | €23,529 | €56,342 | +€32,813 | +139% |
| Taxes, remuneration and social security | 45 | €21,856 | €35,092 | +€13,236 | +60.6% |
| Taxes | 450/3 | €21,856 | €35,092 | +€13,236 | +60.6% |
| Other amounts payable | 47/48 | €1,900 | €21,900 | +€20,000 | +1,053% |
| Accrued charges and deferred income | 492/3 | €3,977 | €1,450 | -€2,527 | -63.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,583 | €41,670 | +€87 | +0.2% |
| Other operating charges | 640/8 | €10,967 | €17,214 | +€6,247 | +57.0% |
| Gross operating margin | 9900 | €160,510 | €169,220 | +€8,710 | +5.4% |
| Operating profit (loss) | 9901 | €107,960 | €110,336 | +€2,376 | +2.2% |
| Financial income | 75/76B | €5,617 | €6,051 | +€434 | +7.7% |
| Recurring financial income | 75 | €5,617 | €6,051 | +€434 | +7.7% |
| Financial charges | 65/66B | €30,461 | €29,387 | -€1,074 | -3.5% |
| Recurring financial charges | 65 | €30,461 | €29,387 | -€1,074 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €83,116 | €87,000 | +€3,884 | +4.7% |
| Income taxes | 67/77 | €24,223 | €15,030 | -€9,193 | -38.0% |
| Profit (loss) for the period | 9904 | €58,893 | €71,970 | +€13,077 | +22.2% |
| Profit (loss) for the period to be appropriated | 9905 | €58,893 | €71,970 | +€13,077 | +22.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.